Calculation of adj. gti for 80g
This query is : Resolved
20 September 2013
Dear Experts,
Whether brought forward loss u/s 72 is to be deducted while calculating the Adjusted Gross Total Income for the purpose of calculation of limit u/s 80G?
Thanks & Regards
Elroy
Whether brought forward loss u/s 72 is to be deducted while calculating the Adjusted Gross Total Income for the purpose of calculation of limit u/s 80G?
Thanks & Regards
Elroy
21 September 2013
Hi Elroy,
I believe in Commissioner Of Income-Tax vs Empire Jute Co. Ltd, it was held that brought forward loss needs to be adjusted to arrive at gross total income for 80G.
I have not been able to find any case which may have distinguished or overruled this judgment.
I believe in Commissioner Of Income-Tax vs Empire Jute Co. Ltd, it was held that brought forward loss needs to be adjusted to arrive at gross total income for 80G.
I have not been able to find any case which may have distinguished or overruled this judgment.
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